Division of Banking and Financial Institutions

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Division of Banking and Financial Institutions

Goals and Objectives - 2015 Biennium

Division Mission: To protect Montanans by regulating state-chartered and licensed financial institutions under its supervision.

Goal: Protect Montanans who enter into short term, high rate loans with lenders from abuses that occur in the credit marketplace.

Objectives: 

• Examine deferred deposit, title, and consumer lenders to ensure compliance with Montana and federal law.

• Issue licenses to entities who meet the requirements of law.

Goal: Protect Montanans who enter into residential mortgage loans with mortgage brokers, loan originators and lenders from abuses that occur in the credit marketplace.

Objectives:

• Examine mortgage broker, loan originators and lender licensees to ensure compliance with Montana and federal law.

• Issue licenses to entities and individuals who meet the requirements of law.

• Provide Montanans with a consumer complaint process involving any mortgage licensee that violates the law.

Goal: Provide Montanans with a safe and sound system of state-chartered financial institutions.     

Objectives:

• Examine state-chartered financial institutions to assure their operations are in accordance with law and sound financial institution practices.

• Coordinate the supervision of financial institutions with federal regulatory agencies.

Goal:  Promote the dual regulatory system that allows state and federal governments to act independently to charter, regulate and supervise financial institutions for the good of Montanans.

Objectives: 

• Address the needs of banks and credit unions, the local communities and Montanans while assuring safe and sound banking practices.

• Authorize state-chartered banks and state-chartered credit unions to engage in authorized activities in which the bank or credit union could engage if it were operating as a national bank or federal credit union as provided by law.

 Goal: Improve the distribution of information and services through web-based tools.

Objectives:

• Use the website, www.banking.mt.gov, to distribute press releases, consumer alerts, names of regulated financial institutions, and forms.

• Promote electronic licensing of mortgage brokers, loan originators and residential mortgage lenders.

• Provide electronic information, forms, or documents to financial institutions and consumers whenever possible.

• Promote Montana financial education efforts, available resources and current issues.

Goal:  Comply with current state and federal policies, procedures and laws governing the regulation of financial institutions

Objectives:

• Revise all division policies and protocols to ensure they accurately reflect the actions of the division and are consistent with state and federal law.

• Identify all statutes that require "clean up", deletion, or revision in order to esnure the accurate interpretation and enforcement of state law. 

Goal:  Create and maintain a highly qualified, professional, diverse and responsive workforce.

Objectives:

• Promote professional growth and development opportunities through improved employee recruitrment, selection, retention, and training

• Provide basic training and continuing professional education to develop and maintain employees’ knowledge and skills.

• Increase awareness of career opportunities by attending job fairs and explaining the purpose of the division.

• Develop career ladders and offer competitive salaries to recruit and retain experienced, capable staff.

 
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